BTR ANNOUNCES MINERAL RESOURCE ESTIMATES
FOR ITS GOLD DEPOSITS IN THE URBAN BARRY CAMP, QUEBEC
Val-d’Or, QC – May 28, 2019: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (“Bonterra” or the “Company”) is pleased to announce results of the recently completed NI 43-101 Mineral Resource Estimates for the Gladiator, Barry, and Moroy deposits located in the Urban-Barry Camp, QC. Highlights of the Mineral Resource Estimates for Gladiator include:
Indicated Resources of 743,000 tonnes at an average grade of 8.46 grams per tonne Au totaling 202,000 ounces Au.
Inferred resources of 3,065,000 tonnes at an average grade of 9.10 grams per tonne Au totaling 897,000 ounces Au.
The results of the Mineral Resource Estimates for the Gladiator, Barry, and Moroy deposits are summarized in table 1 (please see full press release enclosed). The Mineral Resource Estimates for the Gladiator and Barry deposits are reported at a 3.5 gram per tonne Au cut-off grade. The Mineral Resource Estimate for the Moroy deposit is reported at a 3.0 gram per tonne cut-off grade. The resource models are tabulated at various cut-off grades in tables 2 – 4 (please see full press release enclosed).
The Mineral Resource Estimates have been prepared by SGS Geological Services, Blainville, QC, and has been reviewed internally by the Corporation. The full technical report, which is being prepared in accordance with National Instrument 43-101 (“NI-43-101”), will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days. The effective date of the current mineral resource estimate is May 24, 2019.
Greg Gibson, Executive Chairman and Interim CEO of Bonterra commented: “We are pleased with the current mineral resource estimates on our three Urban-Barry gold deposits. The mineral resources delineated to date are a mere snapshot in time with further indications of continued expansion potential along strike and at depth for the three deposits.”
About the Gladiator, Barry, and Moroy Deposits
The Gladiator, Barry, and Moroy deposits are located in the Urban-Barry greenstone belt, approximately 200 km northeast of Val d’Or, QC. The Moroy deposit is located on the Bachelor property which includes the Bachelor deposit and the Urban-Barry mill. The Gladiator and Barry deposits are located on the Urban-Barry property, approximately 125 and 110 kilometres respectively, from the Urban-Barry mill (see Figure 1).
The Moroy deposit is a shear hosted gold deposit comprised of multiple, sub-parallel, gold bearing zones dipping moderately to steeply to the North. Moroy mineralization consists of disseminated sulfides within silica-hematite alteration located at the contacts of syenitic dykes. The Moroy deposit is located approximately 600 metres south of the Bachelor deposit and has been accessed underground from the Bachelor mine. The Moroy deposit has been delineated over strike length of approximately 400 metres and remains open for expansion.
The Barry deposit is a shear-hosted gold deposit with multiple parallel, sub-vertical, shear zones and a second set of veins dipping 50 to 60 degrees to the south. The gold mineralization consists of disseminated sulfides within the shear zones and the veins with local visible gold. The Barry deposit has been delineated over 1 kilometres along strike and 600 metres vertical. The deposit remains open for expansion.
The Gladiator deposit occurs within a major shear corridor and is a quartz vein hosted gold deposit consisting of several steeply south dipping vein and shear structures. Mineralization at Gladiator consists dominantly of free gold in quartz veins. Gladiator is currently defined over a 1.5 kilometres strike length and to a vertical depth of 800 metres. The Gladiator deposit remains open at depth and along strike.
The Company currently has five drills operating on the Bachelor and Urban-Barry properties. These drills are testing a combination of resource expansion and earlier stage exploration targets.
